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tv   FOX Business After the Bell  FOX Business  April 29, 2013 4:00pm-5:01pm EDT

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apple broke through the moving average. [closing bell rings] whether this is false conviction or a breakout. david: bells are ringing on wall street. disney is up 27% this year. all the indices are in the green. the dow managed to fight its way back to triple-digit gains. the dow with 102 points. looks like settling a little bit on the high side. i think we'll stick with the triple digit gains on the dow. s&p edging closers. a lot of folks said we wouldn't reach 1600 for the year. looks like we might be getting it in april. nasdaq coming up big-time. technology stocks as we mentioned having a good day. microsoft, ibm, all are doing well. all the tech stocks are doing well. in fact it is the largest sector gain of all the four
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indexes. russell 2,000, about a 4% gain on the russell 2000. on small and mid-sized stocks. gold continuing its climb, rallying another $13.80. to settle in at $1467 an ounce. analyst attributing the metal's strength expectations at federal reserve and european central bank will keep right on printing their currencies to fuel investment the fed begins its two-day meeting tomorrow. crude oil is moving to the upside to close at $94.50 a barrel. this was the highest settle since april 10th. "after the bell" starts right now. hang in there. david: let's get to today's action. we're holding onto a triple-digit gain from the dow. david kudlow, tells us why
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it is time to buy japan. that is david on the right. mark travis, intrepid capital management president says investors need to be a little more cautious. we have kind of a bear-bull split here. mark sebastian is in the pits of the cme. mark, i want to talk to you. we do have earnings coming in today but first of all some notion that the market isp to go out right now. another triple-digit gain on the dow. s&p is close to 1600. is the market topping off or do you think there is room to grow? >> i think we're at a very key level in the s&p 500. if you take 2000 high, the 2007 high and draw a straight line, it connects to 1592. that is right where we are right now. we got up to here one time a couple weeks back. failed to hold. if we hold there this tomorrow, i think that's our precedent to break 1600. regardless of friday's announcement. i actually think no matter what is said on friday we're going through 1600 sometime
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in the next 8 to 10 days. david: okay. hold on a second, mark. we have the buffalo wild wings earnings coming in. is it adam? go ahead, adam? >> hey, david, buffalo wild wings missed on exper share coming in at 87 cents but revenue, 304.4 million. the street was expecting 30.96 million. shares are trading up slightly. quarterly same-store sales increased 1.4% at the company's own restaurants and 2.2% at franchise restaurants. that is something investors were paying close attention to, the same-store sales. but important it is a miss on earnings per share, david. david: it is a miss but looks like the stock is holding its own after-hours. mark, what do you think of the numbers? >> they were expecting a $7 move. if it is sitting here that is not very much. sounds like wings, beer, sports, maybe the wing portion of that affected their earnings. when you really only have three things, if one gets more expensive that's a
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problem. wings are not at their all-time highs but wing prices need to come off a lot more otherwise they will have eps problems going forwarders actually we got a more exciting stock announcing coming up any moment. herbalife is coming in of course there is a big battle going on between icahn and bill ackman whether you should be long or short that stock. we want to go to that. i want to go to david. we were talking about friday's numbers. mark sebastian talked about friday's numbers. we get the april unemployment numbers. last month were very disappointing numbers yet the market kept climbing through the numbers. even if we get bad numbers on friday, do you think the market will still move north? >> i think even if we get bad numbers on friday the market will continue to move north. now we all know we're overdue for the five to 10% correction. this is the only the third time in history we've gotten this far in a year without a more than 5% correction for stocks. that would be actually healthy for the longevity of
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this bull market but, i think that with the central bank easing around the world, between japan and u.s. alone, 160 billion a month in asset purchases is a key fundamental underpinning for stocks. we do need jobs numbers to improve. we need to see a trend rate, over the past several months, notwithstanding last month. but, stocks will continue to move higher. david: mark, what about this 10% pullout? because we keep hearing about it. but on the other hand we had this 2% pull back a couple weeks ago. that was opportunity for people to get back in. every time there is small pull back, meaning something less than 5%, less even than 3% you see money coming back into the market. when will we get the 10%? >> yeah. david: hold on a second. that is to mark. go ahead, mark. mark travis. >> mark travis, okay. david: mark travis. >> david, you know i think the zero interest rate policy a prime mover as i
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believe other gentleman mentioned, the central bank easing around the world. you know, i kind ofck when i hear the s&p may break its record of 2007. so here we are five 1/2 years later and even though people, moan about the miniscule rates on money market, a lot of people would have been better off sitting tight in money market last five 1/2 years. so that is kind of interesting. and, as far as you know employment situation goes, we've got more people quitting. only reason the rate is dropping. we've got fiscal policy and, central bank policy that somewhere ought to question. david: there is questions, david, about what the consequences of that policy is. what the consequences, i know you're a big bull on japan. we'll get to your japan picks in a second, david. but isn't there some negative consequence with all this money printing that we haven't dealt with yet? >> there is, yeah, there is certainly there's a consequence down the road.
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in japan, all can end very badly. here, it is not, not necessarily a positive outcome for the economy but what we know, asset purchases are doing inflating asset prices. as technical asset allocator, i will not ring my hand where this may end up three, four, five years from now. i'm going to invest for today and tomorrow. the central banks are pushing investors into risk assets. those people that moved to risk assets this year made a lot of money or made a lot of money for their clients. david: david, you have a couple ways to play japan. if you believe in fact japan will grow, they have been in the doldrums for 20 years. you think they may come out of it, wisdom tree product, dxj. >> dxj is a broad based index. essentially, the exporters are the first to benefit within japan, relative to in place. we'll see that expand to the rest of the economy and in other companies. dxj has had a good run
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already but we think that continues. it is about the determination in japan. david: all right. yeah, i want to get mark travis in because we've got to run, but mark travis has some natural gas picks. what makes you think these natural gas picks their moment is now, mark? >> well, david, the challenge is you have a market environment for the last four years that is largely straight up. equity index is up 100, 150%. so find disconnect between price an value in this environment is challenging but we were able to start acquiring e and p companies last spring when gas was $2 per mcf. today it is at 4.25. some of the companies like new field is selling off international assets to fund their cap-ex. if you look valuation on enterprise value to proven reserves, the $1.73 in the case of new fields someone ought to buy it, in my opinion. david: newfield exploration. bill barrett, those are the
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three natural gas plays that you have right now. let me bring mark sebs bab shun -- sebastion back in. what are the pits telling you about natural gas? >> the big thing we've seen is increase in volatility in natural gas. they have come in and completely crushed. volatility in natural gas interestingly as natural gas has rallied volatility really rallied. everything i'm hearing, all the fundamentals i'm looking at all the technicals say natural gas may have a lot more to go especially if demand really increases because regardless where it is currently priced it is cheaper to run natural gas bus and cheaper to run natural gas energy. obama administration doesn't want us using coal. they want natural gas. think you will see a speed in natural gas up and down an generally creeping higher. it's a good one. david: mark travis, bill barrett, newfield exploration, swift energy. go ahead, mark travis.
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last word. >> david, we need to bring t. boone pickens back on. >> don't worry. i think pickens is over with liz at the milken conference. we may get him on this week. thanks, guys. david and mark travis and mark sebastion we'll see you in a few minutes when the s&p futures close. david: a life line for goldman sachs about struggling retailer jcpenney. how can they save the company. letterheading back to liz claman. she is live at the milken global conference. liz, what do you have coming up? >> boone is already schmoozing with 500 billers that. speaking of billionaires we've got one coming up. investor and self-made billionaire, jeff green. only here at the milken conference will they actually put in the book the market value of everybody who is here. more than $5 trillion. you can bet jeff green added to the pot on that one. what does he invest now?
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does he believe in the housing recovery? who is driving it? is it investors or those people with the dream of owning their first home and does it evener? we're coming back live from beverly hills at the milken institute global conference. ♪ [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone
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david: the stock of travel company expedia dropped today over investor concerns. let's head back to nicole petallides on the floor of the nyse. so what is the problem, nicole? >> tough, tough day for expedia shareholders where the s&p 500 is closing highs. nasdaq breaks out. look what went on with expedia down over 4% on the top of their quarterly numbers. take a first-quarter loss. they have increased costs. they see their revenue rise 24% but there is a lot of pressure on the hotwire travel booking business. with that we saw numbers disappointing here on wall street. as a result you saw it down. year-to-date also a loser, down nearly 9%, david. so expedia under significant
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pressure on a day where we had a lot of celebration going on, new highs and the like. david: not everybody plays in the game. thank you very much. thank you, nicole. s&p futures are closing right now. let's head back to mark sebastion in the cme pits. what does it look like? >> looks like we'll pick up a tick or two on the bell. we closed up 11.75 on the s&p futures. we're up 12 right now. so nice move. looks like we have all-time record in the spx. but i think the real interesting thing, nasdaq, what did we say last week? when google and apple stop conspiring against each other and move together, you will see the nd. accident, nasdaq 100 take off. look at board. google up big. apple you will big. nasdaq has been trailing. i think it will be the leader through the balance of the quarter. david: by the way any chance s&p will hit 1600 this week? >> i think we will see 1600
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this week especially if we get a positive number on friday. if we get a bad number on friday i think we wait until tuesday or wednesday. good number on friday we're going to blow right through it. david: by the way herbalife is out. we're going through the numbers. what do you think about herbalife? there is this huge fight with carl icahn and bill ackman whether it is a short and a long? what do you say. >> if ackman is right the sales are coming from growing the sales staff and not actually sales of the product. if icahn is right --. david: we'll get numbers about. i come right back to you. todd, or mark. i go to adam shapiro with the numbers. >> on earnings per share adjusted earning per share was 1.27 cal. street was expecting 1.07. david: wow. >> revenue was what the street expected, 1.1 billion. some of the guidance, fiscal 2013 they see net sales growth versus 20 '12-13% to 15%. also looking at some of the
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what they're reporting here. again it was an earnings per share adjusted of $1.27. street expected 1.07. revenue though essentially flat. in the premarket, after-market, they're trading down. bid is down below the closing price of $38.75. david. david: let's go back to mark sebastion as adam goes through the numbers. we want to find out about total sales volume. thing about this company, all you want to know about the stock the short interest accounts for whopping 43% of all the available float. that is a huge number of shorts. >> absolutely. that is why we're going to see what i think we're seeing right now. herbalife is off a little bit. herbalife will be a stock where good news comes out. it will blow higher. because you see shorts get bought in and run for the fences. when bad news comes out it will be more of a slow drop down because the shorts are already in. when you get to this level of shorts, it is hard to sell more of the stock.
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they will actually have to get long to pull out of the stock for the thing to really take a dive. no surprise that, on the downside it is underperforming relative to upside. if this had been a really big number you could have seen herbalife trading up, 4, 5, $6. david: is carl icahn on the wrong side of this deal? >> i don't know. we'll see. i think time will tell. i'm really interested in seeing how that, those sales numbers pan out. the big thing is, is it, is the sales coming from sales staff or is sales coming from actual product sales? that's where we figure out who the winner is. david: okay. >> and hot loser is, mark sebastion at the cme pits. mark, thank you very much. >> thank you. david: meanwhile government-backed electric carmaker fisker has failed to pay on a $200 million taxpayer loan. how did the wheels come off this government investment so quickly? also, 60% of all american executives say that working from home could
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actually hurt an employees upward mow built. tell us what you think? do you think you can work at home? do you think you're as productive there as you are at the office and why? log on to facebook. -- facebook.com/afterthebell. we'll read your answers later this hour. ♪ . @
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liz: so i actually grew up in beverly hills and people
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always ask me do you get all the time? no, all the palm trees in los angeles were bred not to have coconuts so they didn't fall and smash people in the head. i think. sound good. welcome back. we're at the milken institute global conference 2013. and the milken global conference is really a confab of the best and brightest when it comes to brains and when it comes to billionaires and my next guest has both. in fact as we get the pending home sales numbers which rose 1.5% in march, which reversed february's decline we begin to ask whether it is another sign of recovering housing market? he is the person to ask because he made his billions on betting for and against housing. jeff green, philanthropist and billionaire. good to see you. >> good to see you, liz. liz: let's get right to it. do you believe there is recovery in real estate? >> real estate is a local
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thing. some areas have a big recovery. some areas have a small recovery. liz: nationally they look good. >> nationally they look good. the fed is throwing money at the market in a sea of liquidty for how many years now? finally it is working. in florida where i live, palm beach county, it is in early stages of recovery, which miami which is 70 miles south has prices higher than ever. liz: then i have to ask you, what's driving it? is it investor like yourself and in some cases investors who are flipping? or is it a first-time buyer who has a dream to own a home for the two kids, dog and 2 1/2 cars? >> honestly i think it is a blend of everyone and people trading up. if someone owns a home and they have thought they need to get an extra bedroom or bigger playroom or whatever, they would like to get, with rates where they are, it makes sense to do it right now. we just put some loans on our homes. we got five-year interest only fixed with a 2 1/2% and
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7 year fixed only is 2.7%. liz: why not go longer term. >> go for housing if you can borrow rates at or below the interest rate. liz: does it engender another bubble these low rates? >> well, would have to assume, the conventional wisdom despite what the numbers say inflation is running two to 3%. if we're borrowing two, 3%, that doesn't make sense. even the most aggressive lender would be 2 or 300 basis points above inflation. real interest rates today should really be, 4, 5, 6%. so, if rates normalize, less people will be inclined to buy homes and prices you would think certainly would stop rising and maybe drop a little. liz: i want to explain to people who jeff green really is. he grew up working his way through school, undergraduate and graduate, harvard business school, selling circus tickets and bought a home. you bought a place to
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live -- >> next to cambridge. liz: somerville, next to cambridge. back then it wasn't still as food as cambridge. >> still is. liz: when you bought it and sold it you made so much more and that caught your interest when it came to real estate. now the question is what are you buying to make money in real estate? you took a very big position at the end of the year in, what kind of brought us down, that was mortgage-backed securities. what are you doing with them now? >> you mean the mortgage-backed securities? liz: yeah. >> interesting, today i sold a mortgage-backed security because it was a subprime mortgage-backed security. i bought it for $35. i sold it for $69. it, i only had it for a year. and the yield when i bought it was almost i think over 10%. i sold it at 3 into 8% yield. liz: can any investor do that? when i do, you have to do it as institutional trade but there are funds. i don't want to endorse but there are fund. they can call the local
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stockbroker whoever they work with and get names of those who are fund and stocks that, one is amali and a few others in the business of buying these mortgage-backed securities. liz: well, you look at that. that's a pretty good return what you bought and sold. you've been selling what you have had on your books lately? >> the issue was this. the, the duration of this bond is four or five years. i could have kept it and clipped the coupon at today's prices at 3.8%. it is not the end of the world. it will not be impacted a big way by what happens at fed because it is not a long term piece of paper. i felt at those levels time to peel some off. just last week i bought a mortgage-backed security backed by prime mortgages which means bigger mortgages. they were $250,000 average balance. 86% hadn't missed a payment in two years. average, --. liz: quality is good. >> 104-year-old paper. >> want to finish with this because david asman is
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listening you do hard real estate assets. you own 1500 condo units in palm beach. you bought disstressed. you bought a comfort inn that foreclosed. there in lies real value still distressed property? >> there are no more fractured condos left. only fractured ones are left and people bought and are now flipping that game is over. what i see left in south florida and, again i'm predominantly in palm beach county, west palm beach, boca raton, those areas, and we have not had the recovery that we've had in miami. what is left is development lands. really some retail properties. there is really not much left in fractured condos. liz: guys like jeff green bought them up when they were super cheap. you run in when everybody else is scared. jeff greene, billionaire investor and philanthropist. send it back to you in new york. david: brave investor. electric carmaker fisker lost hits charge as it fails
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to pay back a $200 million taxpayer loan. one of the chief witnesses of its failure joining us coming next. after having spent a day testifying about fisker on capitol hill. ♪ we know a place where tossing and turning have
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david: jcpenney getting a vote of confidence. today, the company receiving $1.7 billion in the lifeline for goldman sachs. adam shapiro joins us with the details. reporter: it is one in three quarters of a billion dollars in a credit facility in which jcpenney can drawdown should they need those funds. of course, mr. ohman replaced him and they said they would need the cash. they were very concerned about how they would stock the shelves. they closed up 1%. in the aftermarket, they are down just a little bit. jcpenney has also already drawn $850 million line against an existing line of credit. a $1.58 billion line of credit that they have with jpmorgan chase and wells fargo. jcpenney stocking the shelves and getting another cash lifeline that a lot of investors
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think this company desperately needs. their all-time low, the annual low, $13.65. they are about $3 above that. david: do you think that george soros knew about this? wasn't something that was not revealed until this goldman sachs loan? >> we knew that he got roughly a 7.9% stake purchase and he did that on april 12. it is still the largest shareholder, whether he knew the financing had been lined up with a line of credit, that is up to mr. soros. david: thank you, very much adam. last week we got word that another government green energy sector is on the verge of bankruptcy. fisker karma failed on monday to repay almost $200 million in
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loan money from the department of energy. it is closing down operations and estimated to lose over $500,000 for every car that they sell. now there is word that the government micromanaging of the car company made a loss is even worse. we would welcome our next guest now. next, losing $500,000 per car, for every car -- that sounds like a terrible thing. is that possible? >> it is not possible to succeed, that is why they are in such financial dire straits. this is the problem when we have the government investing in things of the private sector should be investing in. we don't know how to manage risk and reward properly with using taxpayer dollars and this is what happens. speech it was this a bad debt from the beginning? personal investors, toby smith and some others some private
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sector folks, partly based on the government initiating that loan or the loan guarantees. >> yes, it was a reach for the sky type of investment. but you are right. a lot of the private financial investment came after the doe approved and closed loan. over $8 billion were invested into this company, but much of that came after april 2010 with the we close the loan. a substantially hedge the risk and bets. david: then we get word that could've even been -- it would've been better had the government not been micromanaging it. in what way was the government sort of micromanaging fisker karma to their detriment? >> in a lot of ways and there was a lot of negligence in the doe process. they could have frozen alone sooner than they have. unfortunately, although the loan was $529 million committee frozen after $193 million
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sparing taxpayers some of that money. at the same time, the government micromanagement of private sector investment, this is what happens. you see government getting in the way, you see companies that are relying on the government. they didn't get private financial investment on their own for reason. david: you look at all the other failures. solyndra is kind of the poster child of the failures. but you have evergreen solar, beacon power, abound, you have a whole slew of these green investment failures. and isn't there enough evidence now that the government makes a lousy capitalist? >> yes, you are right and soros systems is another example. the advanced technology vehicles loan program, from the department of energy, supporters of this program argue that it has only been a 2% loss rate
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with fisker karma. it now ford and nissan committees companies are big boysndhey caget l from the private sector and financial banks on their own. david: the car they were manufacturing was for rich people. you look at look at the celebrities that bought these cars, leonardo dicaprio, justin bieber -- these were the middle-class taxpayers subsidizing toys for rich folks. >> yes, you're right. it's even worse than that because we supply the purchase of electric vehicles a 7500-dollar tax credit per vehicle. not only are we subsidizing the subsidizing of the vehicles, but with this tax credit -- again, it is poor and middle-class people paying for someone to buy a hundred thousand dollar car. it makes absolutely no sense.
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david: in it, thank you so much from the heritage foundation. let's go back to live. she's in beverly hills, her home country. for someone of what is coming up at the milken institute. liz: well, david, everybody is basing their investments on how the consumer feels coming up. out. a very special exclusive interview with a man who knows how 1 billion consumers are feeling. he owns them all. we have a special guest, stay tuned. change makes people nervous. but i see a world bursting with ideas, with ambition. i'm thinking about china, brazil, india. the world's a big place. i want to be a part of it.
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>> i am adam shapiro with your your fox business free. cheers are on the rise after government pushed expectations. coming in at 99 cents per share, topping expectations and $26 billion. the empire state building may soon be turned into a real estate investment trust. a new york state court judge says if you issue a decision by the end of the day tomorrow about malcolm holdings and the iconic landmark bridge a marks the six month anniversary since superstorm sandy. the national flood insurance program have paid out $2.4 million in claims throughout new york and new jersey. nearly 40,000 families remain displaced from their homes in area area the only underarm low t treatment. axiron can restore t levels to normal
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we are live in beverly hills. we did get the gdp numbers that came in lighter than expected, which is not a good thing. for anyone looking to see whether you should make investments until you find out exactly how the consumer is doing, wait no longer. my next guest has 1,000,000,000.1 customers that go through his malls. peter lowy, it's great to have you here. how is the global consumer doing >> the gdp came in a little light, but what we are finding is that the consumer is still shopping and sales are going up. business is actually pretty good. liz: you built the westfield mall by olympic stadium outside of london because we were there
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reporting live. i kept thinking that this thing is going to go down as soon as the olympics are over. nobody will tough the small. it will be empty. what happened? >> we had 47 million people come to the mall this year. in fact, the olympics slow down a little bit. liz: that is amazing. you have put your footprint and a lot of other countries as well, including the united states. just down the hall they have the century city shopping mall. >> westfield century city, it is a bright retailer. we are doubling the size. liz: doubling the size? that is amazing. >> the customers love it. liz: what you call it?
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okay, you have a partnership with an organization. what are you doing with that partnership? >> 50% of it was in the partnership itself. we are just announcing that right now. liz: right now as in today? >> yes. liz: you are selling out of the partnership with the brazilian outfit. is there something else you want to do in brazil? >> i have $450 million invested in brazil at the moment. we're going to keep the money there. we are doing a joint venture that we had. we are investing in it at the time, we are investing in london, the world trade center in new york. we are going to look to invest in much more funding.
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liz: okay, a fox business exclusive -- the westfield group getting out of the partnership with brazil. can i assume you will build a brand-new mall in brazil that will be ready for the olympics? >> no, but we are looking to. liz: cracking the whip. build it faster. okay, what is the best area in the world? who is spending the most? >> the u.s. consumer. they have come out of the recession. it is much stronger than we see in the rest of the world. business is actually quite strong. california and florida are very strong. they have come out of the recession and consumers in those marketplaces are doing relatively well. liz: you know, i look at what you guys have done it is so impressive. your grandfather -- your father i'm sorry, he was a holocaust survivor. this is a survivor family. they did very well here in the u.s. as well.
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what is the message to people who are little down and out about the economy and are down and out. >> welcome the company was started in 1960. it has been going for over 50 years. we just write out the cycles. i think the issue for us and issue and the way we run the business as we keep plenty of equity. liz: peter lowy, ceo of westfield group. breaking news. david, go have a. david: a breaking news from peter in california. the officials in boston who continue to look at the situation there. they have some extraordinary evidence that the bomb itself had female dna on it. they don't know exactly where it's from, it's not absolutely conclusive, but there was female dna on the bombs that they were investigating. they have taken samples one of the two bombers, one that was killed, his widow has given a
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dna sample and she has not been named as a suspect. but her lawyer said that she is absolutely cooperative in the investigation. breaking news from boston, they have found female dna on bomb fragments. we will give you more details. from that story, meanwhile, shopping online to get more expensive. particularly for retailers. coming up, 9646 reasons why the proposed internet tax is a lot more headaches for online retailers. @
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david: congress is moving closer to passing an online internet tax. making it more expensive for shoppers and requiring more paperwork for retailers. the bill would force online retailers to collect both state and local sales taxes, that means monitoring 9649 separate tax codes. jeff joins us from verona, wisconsin, for more of the story. >> i will tell you that it's on like a good idea. let's level the playing field. yes, more tax dollars.
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but it is a lot of work. it is not as easy as you say. >> it is very complicated. you have districts. you have different laws. you have people that are tax exempt. you now have to keep track of all of that. and we have to worry about sales tax holidays and audits by each and every one of these things. >> many retailers don't mind it because they have the horses to do it, they have resources to do it. folks that have not complained about this tax. wal-mart and target. the people that have complained, well, your friends at ebay. if we compare them with amazon, different sides of the story on that.
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>> absolutely. think about all this, and million dollars. if someone is taking $2700. the first million is exempt. that is one of the things that they put in to protect everything and. >> medium-sized businesses don't have the resources to comply. >> they are the heartland of america. jeff, great reporting as usual. thank you very much. david: raise your glass. budweiser has figured out a way to help you make new facebook friends by simply toasting with your barmaids. and also, we asked of you could be as productive at the office. your answers are coming up next. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us.
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we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ hey everybody, hi mom... streaming live with a tour of my new place... knowing you can still reach out. ... and now you've seen it. that's powerful. verizon. get mom a lucid 2 by lg for free.
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now, we asked you on facebook and twitter if you could be as productive working at home as you are working in the office. orlando on facebook said, well, it depends on the kind of person you are. if you're a several motivator, it won't be a problem. gary on facebook said, no, too many distractions. companies need to have oversight. it's bad enough that workers are on facebook and e-mail more than they are actually working. let's go back to liz in california with details on what's coming up tomorrow. liz? liz: well, here at the land of stars in beverly hills, we've got a star-studded lineup. we've got tony blair, the former prime minister of the u.k., joining us live. we have bill ford, the top dog at ford on the auto industry and so much more and, finally, avi joseph cohen of goldman sachs. all that coming up live from the milken conference. david: and you have an old friend of mine, uri miller in, right? liz: indeed.
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he'll say hello to you. david: haven't seen him in many years. we'll see more of liz tomorrow from beverly hills. meanwhile, "money" with melissa francis is going to take you home. that's next. ♪ ♪ melissa: i'm melissa francis, and here's who made money today. the bulls who are all in on the s&p 500, the index hit a new all-time high today topping the previous record set on april 11th. tech stocks like hewlett-packard, ibm and microsoft helped lead the way. the s&p 500 is up nearly 12% this year. also making money, lo lean jobs, the widow of steve jobs. lorene's trust is disney's largest shareholder, and disney's stock rose nearly 2% today. she owns close to 131 million shares of disney. that means she scored a gain of clash 148 million -- $148 million. well done. also, bill knig,

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